Clearway Energy, Inc. (NYSE:CWEN – Get Free Report) has earned a consensus rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.50.
A number of brokerages have commented on CWEN. Wall Street Zen lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Clearway Energy in a research note on Tuesday, March 25th. They set a “buy” rating and a $38.00 price target on the stock.
Check Out Our Latest Analysis on Clearway Energy
Clearway Energy Trading Up 1.5%
Clearway Energy (NYSE:CWEN – Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The business had revenue of $298.00 million for the quarter, compared to analysts’ expectations of $305.74 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. Clearway Energy’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Clearway Energy will post 0.83 earnings per share for the current fiscal year.
Clearway Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.4384 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.46%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.43. Clearway Energy’s dividend payout ratio is 218.75%.
Institutional Investors Weigh In On Clearway Energy
A number of institutional investors have recently made changes to their positions in CWEN. State of New Jersey Common Pension Fund D boosted its holdings in Clearway Energy by 11.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 75,564 shares of the company’s stock worth $1,965,000 after buying an additional 7,703 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Clearway Energy by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 9,074 shares of the company’s stock valued at $236,000 after acquiring an additional 414 shares during the period. Bryn Mawr Capital Management LLC acquired a new stake in shares of Clearway Energy in the 4th quarter valued at approximately $361,000. ING Groep NV boosted its stake in Clearway Energy by 938.9% during the 4th quarter. ING Groep NV now owns 77,400 shares of the company’s stock worth $2,012,000 after acquiring an additional 69,950 shares during the last quarter. Finally, RWC Asset Management LLP boosted its stake in Clearway Energy by 105.8% during the 4th quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company’s stock worth $32,480,000 after acquiring an additional 642,322 shares during the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.
Clearway Energy Company Profile
Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.
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